Buying a home in New Hampshire

The shape of a purchase

A New Hampshire purchase follows a familiar arc: pre-approval, offer on a standard purchase and sale agreement, deposit held in escrow, an inspection and diligence period, appraisal and financing, title work, and a closing at which the deed is recorded with the county registry.

What differs is less the paperwork than the property. A large share of New Hampshire housing stock is older, rural or seasonal in origin, on private water and septic, sometimes on a private road. Those facts drive the diligence list.

Diligence that matters here

• Water: if the property is on a private well, test water quality and yield. Arsenic and radon in water occur in parts of the state; NH DES publishes guidance on what to test for.
• Septic: locate the system, review the approved design and any state approvals on file, and have it evaluated by an appropriately qualified professional using methods suitable for that property and system.
• Radon in air: radon-in-air testing is common practice in New Hampshire. If you are on a private well, follow current NH DES guidance and property-specific professional advice on water testing.
• Heating: identify the fuel, the age of the system, whether there is a buried or basement oil tank, and what a full season actually costs.
• Roof, insulation and ice damming: ask how the house handles a heavy snow winter.
• Road maintenance: confirm in writing whether the road is town-maintained or private, and what the plowing and repair arrangement is.
• Wetlands, shoreland and setbacks: relevant if you plan to build, expand or add a structure.

Money mechanics

Budget for the deposit, inspections and testing, appraisal, lender costs, title and recording, prorated property taxes, and the New Hampshire Real Estate Transfer Tax. Under current NH Department of Revenue Administration rules the tax is imposed on the transfer of real property and is assessed on both the buyer and the seller. Confirm the current rate, mechanics and your own figures with the DRA and your closing attorney rather than relying on custom.

This is general information, not legal, tax or financial advice. Use a licensed attorney, lender and inspector for your transaction.

Making a competitive offer without losing your protections

In tight segments, buyers are sometimes urged to waive contingencies. There is a large difference between shortening an inspection period and having no inspection at all — particularly on well and septic property. A good local agent will help you compete on terms that do not put you at risk on the things that are expensive to discover later.